Assumption
Guide for Effective Benefits Management in Major Projects, published by the Infrastructure and Projects Authority in October 2017, defines an assumption as: ‘Something that is accepted as true but there is a lack of appropriate evidence to substantiate it.’
RICS Valuation – Global Standards, Effective from 31 January 2022, Published by the Royal Institution of Chartered Surveyors (RICS) in November 2021, defines an assumption as: ‘A supposition taken to be true. It involves facts, conditions or situations affecting the subject of, or approach to, a valuation that, by agreement, do not need to be verified by the valuer as part of the valuation process. Typically, an assumption is made where specific investigation by the valuer is not required in order to prove that something is true.’
It defines a special assumption as: 'An assumption that either assumes facts that differ from the actual facts existing at the valuation date or that would not be made by a typical market participant in a transaction on the valuation date.'
[edit] Related articles on Designing Buildings
- Appraisal.
- Contract.
- Contractor.
- Major project.
- Procurement.
- Supply chain.
- Tender.
- Value.
Featured articles and news
Classroom electrician courses a 'waste of money'
Say experts from the Electrical Contractors’ Association.
Wellbeing in Buildings TG 10/2025
BSRIA topic guide updates.
With brief background and WELL v2™.
From studies, to books to a new project, with founder Emma Walshaw.
Types of drawings for building design
Still one of the most popular articles the A-Z of drawings.
Who, or What Does the Building Safety Act Apply To?
From compliance to competence in brief.
The remarkable story of a Highland architect.
Commissioning Responsibilities Framework BG 88/2025
BSRIA guidance on establishing clear roles and responsibilities for commissioning tasks.
An architectural movement to love or hate.
Don’t take British stone for granted
It won’t survive on supplying the heritage sector alone.
The Constructing Excellence Value Toolkit
Driving value-based decision making in construction.
Meet CIOB event in Northern Ireland
Inspiring the next generation of construction talent.
Reasons for using MVHR systems
6 reasons for a whole-house approach to ventilation.
Supplementary Planning Documents, a reminder
As used by the City of London to introduce a Retrofit first policy.
The what, how, why and when of deposit return schemes
Circular economy steps for plastic bottles and cans in England and Northern Ireland draws.
Reporting on Payment Practices and Performance Regs
Approved amendment coming into effect 1 March 2025.
Comments
[edit] To make a comment about this article, or to suggest changes, click 'Add a comment' above. Separate your comments from any existing comments by inserting a horizontal line.